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Bausch Health to pay down more debt this week, stock rallies

Tomi Kilgore

Bausch Health Companies Inc. said Tuesday it will pay down an additional $100 million worth of debt this week, which will eliminate all mandatory amortization for the first quarter of 2020. The stock rose 1.9% in premarket trading. The maker of pharmaceutical, medical-device and over-the-counter products said it will use cash generated from operations to pay down the senior secured terms loans. The stock has lost 1.6% over the past three months but has rallied 28.6% year to date through Monday, while the S&P 500 has gained 17.5% this year.